New PAN 2.0 system can catch duplicate PANs easily: Check and surrender duplicate PAN soon as Rs 10,000 penalty may apply
PAN 2.0 if they already have a valid Permanent Account Number (PAN). However, if you happen to find that you have a duplicate PAN then do not panic, immediately surrender it to avoid violating the law. Having said that, if you are not sure whether you have a duplicate PAN issued using your documents, then it might be a good idea to check right now. This is because the government has made clear its intention of removing duplicate PANs from the system and of using technology to catch offenders.
Read below to find out how to check whether you have a duplicate PAN and what to do if a duplicate PAN exists in your name.
The government can track duplicate PAN under the new PAN 2.0 project
The government has the technology necessary to check for duplicate PANs. «As per the provisions of Income-tax Act, 1961, no person can hold more than one PAN. In case a person holds more than one PAN, he/she is obliged to bring it to the notice of the Jurisdictional Assessing officer and get the additional PAN deleted/de-activated. In the PAN 2.0, with the improved systems logic for identification of potential duplicate requests for PAN and centralized and enhanced mechanism for resolving the duplicates would minimize the instances of one person holding more than one PAN,» said the ministry of finance in a press release dated November 26, 2024.
Experts say that the PAN 2.0 has in-built security measures like a dynamic QR code and others which will automatically detect duplicate PAN issuances.
Faranaaz G Karbhari, Counsel, HSA
